by Key Takeaways
- Following Donald Trump’s victory, Uniswap surged to the top of the top 100 currencies in terms of growth.
- With gains of 19.9% and 17.6%, respectively, AI tokens like Bittensor and Artificial Superintelligence Alliance also did well.
- Popcat surpassed Dogecoin to become the meme coin with the fastest growth among the top 100.
The cryptocurrency market was extremely turbulent during the last few hours of the U.S. election’s vote counting.
Trump’s possible victory at the time contributed to the strong increase in Bitcoin (BTC) and the larger cryptocurrency market during the last day.
Uniswap Beats Some Meme Coins and Leads U.S. Election Growth
With a gain of almost 29% over the past day, Uniswap (UNI) is the best-performing currency among the top 100 by market capitalization, according to CoinGecko. AAVE (AAVE), with a gain of 21.4%, comes in second.
In the field of decentralized finance (DeFi), Uniswap and Aave are regarded as blue chips. Their decentralized governance approach might be the reason for their impressive achievement. Notably, another blue-chip DeFi asset, Lido DAO (LDO), placed highly as well, rising 18.5% to sixth place.
AI Tokens Are Among the Best As Well
It’s also important to note that, based on CoinGecko statistics, tokens related to artificial intelligence (AI) were among the biggest winners during the previous day. With a 19.9% price gain, Bittensor (TAO) came in fifth.
With a 17.6% price rise, the Artificial Superintelligence Alliance (FET) came in ninth.
Strong growth in meme coins
Memes were one of the few cryptocurrency assets to increase in value during the last few days, as the overall market declined in anticipation of the election results. As of November 5, for instance, Dogecoin (DOGE) led the top 100 coins with a 10% price increase.
Memes that were among the top 100 cryptocurrencies by market capitalization also did well in the final vote count. With an 18% rise in a single day, Popcat (POPCAT), which had previously had a significant correction, came in at number seven, just below Lido DAO.
With a 17.1% price rise, DOGE came in at number eleven. With a 15.6% increase, Bonk (BONK), another meme currency with a dog motif, came in at number 13. But it’s crucial to keep in mind that the cryptocurrency market is now quite erratic. When the Bitcoin Spot ETF was approved, there was a comparable price increase.
